Demand for purchase mortgages jumped the week ending Nov. 19 to the highest level since the expiration of the homebuyer tax credit, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.
Purchase loan applications were up 14.4 percent from the week before, the MBA said, to the highest level since the week ending May 7. The increase in demand was magnified somewhat by the fact that the previous week included Veterans Day and no adjustment was made for the holiday, the MBA said.see full article